We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 17 April 20
SAUDI ARABIA'S MAY 2020 OSPS FOR CRUDE EXPORTS BODE WELL FOR ASIAN REFINERS - WOOD MACKENZIE
 On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia’s crude export strategy after agreeing to cut production in the OPEC+ deal on 10 April 2020.
Wood Mackenzie research director Sushant Gupta said: “Looking at the May OSPs, it is clear that Saudi Arabia wants to ensure its crude remains very competitive in Asia. It has almost doubled the discounts to Asian refiners in May 2020 compared to April 2020. Asian refiners are to enjoy the steepest discounts compared to other regions.”
Saudi Arabia increased the May 2020 OSPs to the US refiners, indicating a desire to export lower volumes to the US. For Saudi Arabia, these volumes are less lucrative.
For Europe and the Mediterranean, the OSPs are maintained, continuing the pressure on Russian Urals’ pricing towards Europe.
Crude runs in Asia are expected to recover from a low point of 26 million barrels per day (b/d) in April 2020 to about 29 million b/d by June 2020, as a result of an expected recovery in oil demand. At the same time, with OPEC+ production cuts likely fully in place by June 2020, crude markets in Asia could also get tighter.
Gupta said: “To meet the entire demand from the refining system, Asian refiners will need to draw down crude inventories built through H1 2020 in their respective countries, and crude producers will have to rely on selling crude from inventories built through April 2020. This will support crude prices.
“We see large changes to crude supply sources for Asian refiners as they rely heavily on crude producers directly impacted by the OPEC+ deal, such as Saudi Arabia, Iraq, Kuwait, the UAE, Angola, Nigeria and Russia. Asia represents a significant share of the exports from these countries.
“No doubt exports to Asia from Saudi Arabia and Russia will be impacted, but because Asia provides a higher netback to both Russia and Saudi Arabia, both will ensure that Asian market volumes fall the least as they cut output. We would expect both producers to divert volumes towards Asia from other regions.
“The discounted OSPs does not continue the price war, rather it is a necessary step to protect Saudi Arabia’s largest and most profitable export market, Asia. With such steep discounts in May 2020, Saudi grades look very attractive to Asian refiners compared to US WTI and key African crude grades.”
Wood Mackenzie expects the light-heavy crude differential to narrow as medium and heavy crude production is preferentially cut as part of OPEC+ deal. Steeper discounts for Saudi grades are a means to compensate refiners for a narrower light-heavy differential.
The deepening OSP discounts would also be required to account for a softening VLCC freight rates driven by OPEC+ production cuts. A lower VLCC freight rate improves relative economics for long-haul shipments such as US WTI crude and Nigeria Bonny Light crude to Asia compared to crudes from the Middle East.
Gupta said: “With deeper discounts to Asia, Saudi Arabia is ensuring that it does not lose access to buyers if oil demand remains weak. Other suppliers looking to position themselves in Asia will have to pay close attention to the Saudis’ pricing.
“ESPO crude from Russia would require a deeper discount to Dubai benchmark to remain competitive against Saudi Arabian crudes. US and African crude grades also would need to be further discounted to compete into Asia.”
Source: Wood Mackenzie
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
Friday, 17 April 20
OPEC BRACES FOR OIL MARKET'S "HISTORIC SHOCK"
OPEC released its much anticipated April monthly report.
Crude Oil Price Movements
Crude oil prices collapsed in March 2020, rec ...
Friday, 17 April 20
SEABORNE COAL PRICES UNDER PRESSURE AS DEMAND SOFTENS IN CHINA, INDIA - CLYDE RUSSELL
Worrying signs are emerging for coal exporters to the world’s biggest markets in Asia, as top buyers China and India move to favour domestic ...
Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
The centre should take a fresh look at coal-energy value chain as the sector tops the chart on loan defaults.
Covid-19 may have serv ...
Thursday, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
China’s benchmark power coal price fell by 5 yuan (about 70 U.S. cents) per tonne during the past week.
The Bohai-Rim Steam-Co ...
|
|
|
Showing 1011 to 1015 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
|
| |
| |
|
